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ACWA Power moves closer for Tadawul IPO

: Monday, March 24 - 2014 @ 02:14

Saudi water and power project developer ACWA Power has names the investment banking arm of Banque Saudi Fransi to arrange its debut share sale on the kingdom’s stock exchange, Reuters has reported, citing banking sources. The offering, to be arranged by Saudi Fransi Capital, is likely to take place before the end of the year or in the early part of 2015, said one of the sources. ACWA has developed a number of projects in Saudi Arabia and has also worked on schemes in Oman, the UAE, Mozambique and Morocco.

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Monday, March 24- 2014 @ 2:14 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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